Discussions are ongoing to develop a framework that will assist Fiji’s political parties’ in the efficient and proper disclosure of their sources of funds.
Fiji’s Registrar of Political Parties Mohammed Saneem met with the president of Fiji Institute of Auditors, representatives of the Office of the Auditor-General and members of the Fiji Independent Commission Against Corruption (FICAC) recently to discuss the formulation of a framework that will guide auditors when auditing parties’ accounts and provides checklists to accountants who prepare parties’ financials.
Moves to develop the framework stem from “most political parties’ failure” to issue receipts for monies that have been deposited into their bank accounts or received by them directly at their office.
“It is necessary… that we develop a framework to assist parties to adequately declare their accounts and disclosures and at the same time, provide some guidance to auditors as they undertake the independent audit of political party accounts, “ Saneem said.
“There is a failure to maintain proper accounts by virtue of not issuing receipts and this results in failure to reconcile the monies that are ultimately received by the party in relation to expenditure.”